China National Gold
Group has won the bidding for the right to
develop Yangshan Mine, China's China's Largest gold mine
by reserves. The company unveiled its plan on
Friday to develop the mine, vowing to construct
China's China's Largest gold mine base in an
energy-efficient and environmentally-safe way.

The Yangshan gold mine is located in
northwestern China's Gansu province. Discovered
in 2007, it has estimated proven gold reserves
of 308 tons, the largest in China and Asia, and
the 6th largest of its kind in the world.

The world-class gold mine has attracted huge
attention from miners, both local and overseas.
China National Gold Group won the bidding for
the development rights for 2.2 billion yuan.
Total investment in the mine is expected to
reach over 4 billion yuan.

Although the mine is big, its development is
expected to be difficult. The gold ore is in
granule form, and mixed with high proportions of
arsenic and carbon.

Sun Zhaoxue, President of China National Gold
Group Corp., said, "The mine has increased our
gold reserves significantly. There's great
potential for the mine. But it will also require
high technology for its development and to keep
it environmentally safe. We will use
world-leading technology to develop the mine."

The company is now prospecting the mine.
Development on it will begin next year.